July 14, 2017
Houston energy company Dynegy announced plans to sell three power plants to help reduce debt, while satisfying an agreement with the Federal Energy Regulatory Commission. The company will sell the plants, located in New England and the Midwest, for a combined $300 million.
The plants are being sold in conjunction with Dynegy’s early 2017, $3.3 billion deal to acquire more than a dozen plants from French company Engie. The buy makes Dynegy one of the nation’s largest independent energy producers.
Dynegy needs to sell the New England and Midwest plants as part of federal approval of its deal with Engie. The deal is part of Dynegy’s plan to unload older, and more expensive coal-fired plants, and transition to cleaner-burning natural gas.
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